Global talent shortage hits new high, survey finds
Manpower Group's ninth annual Talent Shortage Survey found 36 per cent of employers around the world reporting talent shortages this year, the highest in seven years.
The survey was conducted between January and May by interviewing more than 37,000 employers in 42 countries.
Employers reported the biggest talent shortages in the skilled-trades category. Engineers are second on the list for the third year in a row. Moving up to third are technicians in production, operations, maintenance and other roles. Sales representatives slipped one place to fourth. Sales-manager positions are new to the top 10 this year, placing seventh (up from 12th in 2013). Labourers dropped out of the top 10 altogether because of declining demand over the past three years.
For the third consecutive year, Japanese employers reported the highest level of talent shortage – more than four out of five employers are struggling to fill open jobs.
However, this clearly remains a pervasive issue around the globe, with Peruvian, Indian, Brazilian, Turkish and Argentine employers also reporting acute shortages. During the past 12 months, the problem has worsened in 10 countries, most notably Latin American nations.
At the other end of the spectrum, employers in Ireland and Spain – two countries that have borne the brunt of the euro-zone recession and endured consistently weak labour markets – reported the least difficulty filling jobs.
More than half of employers reporting a talent shortage say it is having a significant impact on their ability to meet client needs. This is consistent with 2013 findings, demonstrating that companies continue to see talent as a key driver to meet business objectives.
The most common impact companies reported was a reduced ability to serve clients, closely followed by reduced competitiveness and productivity. More than a quarter said increased staff turnover was a consequence of talent shortages, with 24 per cent citing a negative impact on employee engagement, innovation and creativity.
As in 2013, the most common reason employers struggled to fill jobs was that candidates did not have the technical competencies required. Other reasons include a shortage of available applicants, lack of experience or employability skills, and mis-aligned candidate expectations.
